Portable ventilators are witnessing significant advancements, revolutionizing patient care and mobility. These developments have profound implications for the ventilator market, enhancing patient mobility and improving their quality of life. Portable ventilators offer the convenience of mobility, enabling patients to receive necessary respiratory support while maintaining their daily activities and independence. The growing demand for portable ventilators and their potential to transform the ventilator market by providing patients with greater freedom and improved quality of life.
According to Data Bridge Market Research, the Ventilators Market accounted for USD 1.4 billion in 2021 and is expected to reach USD 2.61 billion by 2029, registering a CAGR of 8.1% during the forecast period of 2022-2029.
“Growing prevalence of respiratory disorders surges market’s growth rate”
The surging prevalence of respiratory disorders, including chronic obstructive pulmonary disease (COPD), sleep apnea, acute lung injury, and hypoxemia, is a key driver of the respiratory devices market. These conditions are becoming increasingly common, fueled by factors such as aging populations and the rise in preterm births. Additionally, the high prevalence of tobacco smoking, a significant risk factor for respiratory diseases, further contributes to the market's growth. The need for effective diagnosis, treatment, and management of these respiratory disorders is creating a growing demand for respiratory devices, propelling the market forward.
What restraints the growth of the ventilators market?
“Low awareness of respiratory diseases”
Low awareness about respiratory diseases poses a significant challenge in the market as it results in a high number of undiagnosed and undertreated patients. Many individuals may not recognize the symptoms or seek timely medical intervention, leading to delayed or inadequate treatment. This not only affects patient health but also hinders the growth of the market. Efforts to increase awareness about respiratory diseases, their symptoms, and the importance of early diagnosis and treatment are crucial to address this challenge and drive market growth by ensuring more patients receive appropriate care and management.
Segmentation: Ventilators Market
The ventilators market is segmented on the basis of product type, modality, type, mode, and end user.
- On the basis of product type, the ventilators market is segmented into intensive care ventilators, portable ventilators, and Neonatal Ventilators.
- On the basis of modality, the ventilators market is segmented into non-invasive ventilation and invasive ventilation.
- On the basis of type, the ventilators market is segmented into adult ventilators, neonatal ventilators, pediatric ventilators.
- On the basis of mode, the ventilators market is segmented into combined-mode ventilation, volume-mode ventilation, pressure-mode ventilation, other.
- On the basis of end user, the ventilators market is segmented into hospitals, Ambulatory Surgery Centres, specialty clinics, long term care centres, rehabilitation centres and homecare settings.
Regional Insights: Asia-Pacific's Dominates the Ventilators Market
Asia-Pacific's dominance in the ventilators market can be attributed to the increasing prevalence of chronic diseases in the region. The rising incidence of respiratory ailments and the growing aging population contribute to the demand for ventilators, driving market growth in Asia-Pacific.
North America is anticipated to experience substantial growth during the forecast period. The region's increasing number of preterm births and advancements in neonatal care technologies necessitate the use of neonatal ventilators. These emerging technologies and the need for specialized ventilators for neonatal patients contribute to the growth of the ventilators market in North America.
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Recent Developments in Ventilators Market
- In April 2020, Medtronic obtained approval from the US Food and Drug Administration (FDA) under the Emergency Use Authorization (EUA) to use PB560 ventilators. Prior to this approval, the company was shipping approximately 300 ventilators per week. With the aim of addressing the ongoing epidemic, Medtronic planned to increase production from 300 to 700 ventilators each week.
The Prominent Key Players Operating in the Ventilators Market Include:
- Koninklijke Philips N.V. (Netherlands)
- Getinge AB (Sweden)
- ResMed (U.S.)
- Medtronic (Ireland)
- Fisher & Paykel Healthcare Limited (New Zealand)
- Avasarala Technologies Limited (India)
- Allied Healthcare Products, Inc. (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd, (China)
- Drägerwerk AG & CO. KGAA (Germany)
- Nihon Kohden Corporation (Japan)
- Asahi Kasei Corporation (Japan)
- Air Liquide (France)
- Vyaire (U.S.)
- General Electric Company (U.S.)
- Hamilton Medical (Switzerland)
- Smiths Group plc (U.K)
- aXcent Medical (Germany)
- Metran Co., Ltd (Japan)
- Airon Corporation (Florida)
- TRITON Electronic Systems Ltd. (Russia)
- Bio-Med Devices, (U.S.)
- Hill-Rom Holdings, Inc. (U.S.)
- HEYER Medical AG (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of ventilators market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Ventilators Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
